The Korea Federation of Banks has recently decided to donate 200 million KRW to support emergency recovery and stabilize the lives of residents affected by the wildfires in the Gyeongbuk and Gyeongnam regions.
The donation will be delivered through the Korean Red Cross and used for restoring damaged facilities of disaster victims, emergency housing, and relief supplies due to the recent wildfires.
The banking sector is actively working to alleviate financial difficulties faced by affected households, small business owners, and small and medium-sized enterprises by providing emergency living stabilization funds and business stabilization funds, as well as extending loan maturities and offering repayment deferrals on existing loans.
Cho Yong-byeong, Chairman of the Korea Federation of Banks, expressed his deep condolences to the residents severely affected by the recent wildfires, stating, “The banking sector will actively participate in recovery efforts to help the affected residents return safely to their daily lives as soon as possible.”
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